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Wednesday, 31st January 2007 (3587 views)

The AIM-listed mining company Metals Exploration has announced positive results from preliminary testing carried out at the Runruno gold deposit in the Philippines.

Tests on fresh composites yielded gold recoveries with grades that exceeded expectations thanks to the presence of coarse gold, AFX News reports.

Jonathan Beardsworth, chief executive of Metals Exploration, told AFX News: "These preliminary results indicate that the metallurgical test work is on track. The gold recoveries, in particular, are encouraging at this stage."

The Runruno Deposit lies approximately 200 kilometres north of Manila in the Nueva Viscaya Province in the Philippines.

Gold mineralisation has been present at the site since the early 1960s and occasional exploration work has been carried out over the years.

According to Metals Exploration feasibility studies undertaken by various companies suggest that the Runruno gold deposit "has the potential to become an economic gold producer with significant upside potential to its already defined resource of 600,000 ounces".

Metals Exploration also has two other ongoing gold projects in Southeast Asia. These are the Masapelid project and the Puray project.

 

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